The Latest SPAC News and Rumors: May 6, 2022


The Latest SPAC News and Rumors: May 6, 2022


Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: Transfix reports record first quarter results, Blockchain Coinvestors launches $200M fund, and Offerpad announces earnings

Transfix Reports Record First Quarter 2022 Results

Transfix, Inc., the Intelligent Freight Platform™, today announced record financial results for the first quarter of 2022.

Total revenue increased 50% from the first quarter of 2021, to $90 million and gross profit increased 28% from the first quarter of 2021, to $6.0 million. Adjusted gross profit increased 34% from the first quarter of 2021, to $6.6 million.

As previously announced on September 21, 2021, Transfix has entered into a definitive business combination agreement with G Squared Ascend I Inc. (NYSE: GSQD).

Early Wyre Backer Launches $200M Fund for ‘Mid-Growth’ Crypto 

Blockchain Coinvestors, a blockchain investment firm with more than $450 million in assets under management (AUM), has launched a $200 million mid-stage growth fund providing exposure to emerging blockchain companies, a source close to the firm told CoinDesk.

The new “Blockchain Coinvestors VI (Mid Stage Growth)” will invest in 20 to 30 projects with “attractive return profiles and visible paths to liquidity,” according to the newsletter. The mid-stage nature of the funds means backing Series B, C and D funding rounds.

The firm also has a Nasdaq-listed SPAC called Blockchain Coinvestors Acquisition I (NASDAQ:BCSA) that’s targeting blockchain-enabled businesses. The SPAC raised $261 million in its November initial public offering.


Offerpad Earnings Continue To Set Records

Offerpad (NYSE:OPAD), the digital platform for buying and selling homes, posted its “best quarter in company history,” Brian Bair, Offerpad Solutions Inc. chairman and CEO, said Wednesday evening during a conference call with analysts. Revenue in the first quarter totaled $1.37 billion, a 384% increase from the first quarter last year, and the company sold a record 3,602 homes in the quarter, a 254% increase from the 1,018 homes it sold a year earlier.

Offerpad went public via a publicly traded SPAC by merging with Supernova Partners Acquisition Co., owned by former Zillow CEO and co-founder Spencer Rascoff.